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B&G Foods Reports Financial Results for Third Quarter 2026

BGS
  • B&G Foods reported third quarter 2026 net sales of $459.8 million, a 4.7% increase year-over-year, driven by base business growth, the College Inn & Kitchen Basics acquisition, & co-manufacturing revenue.
  • Base business net sales grew 5.0% to $404.6 million in the third quarter, while total net sales for the first three quarters of 2026 decreased 2.9% to $1,252.0 million due to divestitures.
  • The company recorded a net loss of $32.5 million ($0.40 per diluted share) for the third quarter, compared to a loss of $19.1 million in the prior year period, primarily due to $40.7 million in impairment charges for B&M & Joan of Arc brands.
  • Adjusted diluted earnings per share for the third quarter were $0.21, a 40.0% increase from the prior year, while adjusted net income was $17.8 million.
  • Adjusted EBITDA for the third quarter reached $81.8 million, a 16.2% increase year-over-year, supported by higher margins from acquisitions & the divestiture of lower-margin frozen business.
  • For the first three quarters of 2026, the company reported a net loss of $69.0 million ($0.85 per diluted share) & adjusted net income of $29.5 million ($0.36 per adjusted diluted share).
  • The Frozen & Vegetables segment saw net sales decline 29.6% to $54.5 million in the third quarter due to the Green Giant U.S. frozen divestiture, though adjusted EBITDA improved 37.3% to $5.7 million.
  • The Meals segment net sales increased 27.9% to $140.6 million in the third quarter, driven by the College Inn & Kitchen Basics acquisition & increased net pricing.
  • Full year fiscal 2026 net sales guidance was raised to a range of $1.760 billion to $1.800 billion, with adjusted EBITDA guidance increased to $280.0 million to $290.0 million.
  • Adjusted diluted earnings per share guidance for the full year was reaffirmed at $0.575 to $0.675.
  • Net interest expense increased to $44.8 million for the third quarter & $119.1 million for the first three quarters, attributed to higher debt levels, the 11.00% interest rate on new senior notes due 2031, & debt extinguishment losses.
  • Selling, general & administrative expenses rose 14.9% to $51.3 million in the third quarter & 0.8% to $142.1 million for the first three quarters, largely due to acquisition & divestiture-related costs.
  • The company announced a conference call for November 10, 2026, to discuss these financial results & forward-looking statements.